Iranian president auctioning one of his most treasured possessions – a '73 white Peugeot 504. Proceeds to go needy families in Tehran

Dudi Cohen |Published: 11.22.10 , 17:22

Looking for a used car, preferably an antique? If so, look no further – Iranian President Mahmoud Ahmadinejad has
an offer you cannot refuse – a white, 1973 Peugeot 504 in mint condition.

The family car, which was the president's source of pride for many years, will be put on the market, and the proceeds will be donated to poor families in need of housing assistance.

Iranian Welfare Minister Sadik Mahsoul on Sunday said the ancient vehicle will be up for auction internationally, adding that the details of the opening bid will soon be revealed.

Upgraded to newer model. Mahmoud Ahmadinejad

Azam Farahi, Ahamadinejad's wife, will be the one bidding farewell to the car, as it is legally registered under her name.

Ahmadinejad's Peugeot 504 is well known to many Iranians. During the 2005 election campaign, the then candidate used his antique car to draw support from his voters in the lower echelons of Iranian society.

In addition to his car, Ahmadinejad frequently takes pride in his modest pad in south Tehran, and of course in his faded jacket that he wears everywhere, which he claims he purchased at the local bazaar.

The money from the auction will go to the Mehr Foundation – a governmental foundation that finds housing solutions for poor families. Iran,
similarly to Israel, has been suffering in recent years from a housing shortage and a steady increase in real estate prices – especially in the big cities such as Tehran.

Immediately after winning his second term in the 2009 elections, Ahmadinejad declared that "housing, employment and general reform" will be on top of his government's agenda.